Sensex zooms 447 points, Nifty ends abover 14,900

Sensex ended on firm footing after swinging 632 points in intraday. Sensex gave up morning gains on the concern of bond yields, yet again and made an intraday low of 49,807. Sensex recouped losses in late afternoon trades.

At close, the Sensex was up 447 points or 0.90% at 50,296, and the Nifty50 ended at 14,919 gaining 157 points or 1.07%.

M&M, NTPC, Bajaj Auto, Tech Mahindra & TCS were among the major gainers on the Sensex, while ONGC, HDFC, PowerGrid, Dr Reddy’s Labs & SBI were the laggards.

Among sectors, Nifty IT & Nifty Auto indices rose over 3%, followed by Nifty FMCG & Nifty Pharma gaining around 1.4%. Nifty Realty, Nifty Metal was up 0.80% while Nifty Bank gained 0.35%.

The broader market outperformed benchmark indices as Nifty Midcap 100 ended at a record high of 24,086 after gaining 1.70% whereas the Nifty Smallcap 100 rallied 1.24%.

Buyers outpaced sellers. On the BSE, 1,860 shares rose, and 1,148 shares fell. A total of 169 shares were unchanged.

Global markets

European shares were trading mixed while Asian stock markets closed on a mixed note on Tuesday. U.S. stocks jumped on Monday in a broad-based rally as stocks tied to the economic reopening jumped on vaccine optimism, while tech names rebounded from steep losses last week.

U.S. manufacturing activity increased to a three-year high in February amid a surge in new orders. The ISM said its index of national factory activity rebounded to a reading of 60.8 last month from 58.7 in January. That was the highest level since February 2018.